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Magna : Real Estate Advice

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  • Home Buying2
  • Home Selling0
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Activity 11
Wed Sep 27, 2017
trosenb answered:
can I put the buyers accrued rental income into an escrow account so they can use as down payment for a mortgage?
0 votes 7 answers Share Flag
Tue May 9, 2017
Soraya and Jen asked:
both me and my wife are felons......our charges are almost 7 years old and our credit isnt the greatest but we filed bankruptcy in 2015 we're trying so hard to find somewhere can we get…
0 votes 0 Answers Share Flag
Thu Oct 17, 2013
Daimon Bushi answered:
Hi CocaRoca,
There are many different types of loans out there, including 100% financing. The seller can pay for your closing costs and prepaid expenses which typically run 2-3% of the purchase price. In utah seller paid closing costs are a common practice. However, if you are unable to afford the downpayment or closing fees, I would caution you as there are often repairs that will come up with home ownership. If you have to make a major repair, but can not afford it, you may run the risk of losing your home.

There are many different types of sales, including seller financing, lease option, and rent to own that may work as well and keep more money in your pocket for future expenses/repairs/remodels.

If you have any questions or concerns, feel free to contact me off my profile.

Best of luck and hope this helps,
Daimon Bushi
... more
0 votes 2 answers Share Flag
Thu Oct 3, 2013
Annette Lawrence answered:
ANNA,
YOu must immediately call your loan representative and press for teh answer to this question.
YOUR selection of a lender has a tremendous bearing on the competiveness of your purchase offer. Seller WILL be advised by their real estate professional regarding the historic record of a lender closing on time, under budget and without all the hysteria.
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YOu would be well advsied to contact a local lender where your new home is located.
Your real estate professional is your best resource for identifying a local lender who wlll make your offer competive. The 'to big to fails' have an established historic recored of leaving buyers at the alter.
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You may also try: www.BankingGrades.com
Choose an "A" or "B" graded lender.

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041

http://bit.ly/GARK4m
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0 votes 2 answers Share Flag
Thu Oct 3, 2013
Chris Martindale answered:
I have a builder I represent. We never negotiate on the list price or pay closing cost. We do offer 5k in upgrades if you use our lender. The only thing I usually see negotiated is the upgrades get a discount or thrown in. I have worked with a ton of builders in Utah and its hard to find one that is willing to lower the price cause once they do it for you everyone else will expect it. If you want tell me what builder and I can tell you if I have ever been to negotiate with them. ... more
0 votes 5 answers Share Flag
Fri Feb 3, 2012
Jaren Larsen answered:
Do you have specific questions for the listing agent? If you are looking to view the home your agent can get you into the home. If you don't have an agent let me know, I can schedule a showing. Also in order to bid on and buy a HUD home you will need to work with a agent that has a HUD NAID number. We have that and would love to help you get into a home.
Let me know how I can help.

Thanks,
Jaren Larsen
801-599-7945
jaren@redstoneresidenial.com
... more
0 votes 2 answers Share Flag
Wed Aug 10, 2011
Ann Rushton answered:
I must clarify the "we will accept all offers"........I must have been nearly asleep. We will consider all offers and hopefully find an acceptable one. Yes, I am an agent and have 1.8 acres that the engineering, geotechnical evaluations, utility signoffs & impact fees have been taken care of with Salt Lake County. The 6 lot subdivision on a cul-de-sac with .24 acre lots will need to be developed by the buyer. We need to sell the whole parcel at once as we're doing a 1031 Exchange. I am the owner/agent. These lots have been approved by Salt Lake County, but are on hold right now while they were buying the property along 7200 West for the improvements.

I thought you were asking spacifically about those lots. To answer your general question, I also live next to the lots. We were not happy with the county's position on the resale value of our home. They say it won't impact it much, just the cost of the property they acquired. As an agent I feel it can't help but impact the sale if it is just the loss of exposure to homes for sale along this road. There won't be nearly as many people even interested in looking at a home because it is on a busy road. You can contact me directly @ 801-891-2554, or e-mail me @ saannru@comcast.net. Today (Wed) I will be unavailable until about 6:00. E-mail would be best today.
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0 votes 3 answers Share Flag
Sun Jul 11, 2010
oknothere answered:
That home was listed for 135,000 and reduced to $130,000 before it was taken off of the market back in May. It was then relisted on May 28th for $124,900 and has been reduced in price to $119,000 and then again to where it is listed now at $114,900.

This home is bank owned by Bank of New York and is sold as-is, where-is. They require 1% down in Earnest Money and that you seek pre-qualification through Bank of America and submit that pre-qualification with your offer.
... more
0 votes 2 answers Share Flag
Tue Jan 20, 2009
Becky Nay answered:
The county assessors office should be able to tell you what taxes were last year. Also, a Realtor can tell what taxes were on any given property for the previous year. There will also be mortgage insurance depending on how much will be put as a down payment on the purchase of a home. Any further questions just give me a call. I hope that this helps. ... more
0 votes 1 answer Share Flag
Thu Dec 25, 2008
Isaac Bensussen answered:
I believe that as long as you keep on paying your mortgage you are not in any danger of losing your home. Unfortunately, your daughter is still responsible for the mortgage because she signed the note and the trust deed as the borrower.

If your daughter wanted to purchase another home, she could prove to the new lender that you are making all your payments on your home by showing copies of your checks.

My advise would be to consult with a mortgage broker to see if you have any other alternative and if my suggestion above still holds true in todays difficult mortgage market.
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0 votes 1 answer Share Flag
Wed Jul 23, 2008
Victor Rothaar answered:
There are several different ways to increase a property's value. In no specific order, you could: build an addition to your house, thereby increasing its size; finish the basement, thereby increasing its livable square footage; change out the exterior materials (like from wood or vinyl siding to stucco or brick, etc.); remodel certain rooms in the house (like especially the kitchen and master bedroom/bathroom); or even just update the house in general (like new carpet/tile/hardwood floors, paint, appliances, lighting and plumbing fixtures, etc.). Any of those items would increase a home's value. (If you're selling, home staging could temporarily increase a home's "perceived" value as well.)

If you need more specific details, don't hesitate to call me. 801-718-3090. I'm a local real estate broker and builder and have numerous resources to assist you in any of these undertakings!
... more
0 votes 1 answer Share Flag
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